#17: How Working On A Money Mindset Transformed My Business

Today’s episode of the podcast is discussing the use of money mindset in developing your business. We will be looking at what makes a strong money mindset and the common mistakes business owners make especially when starting a business. We will also be discussing strategies you can put in place to build a strong money mindset and transform your business. 

Key takeaways

• When I started my business, I didn’t do it to make money. I was in an incredibly toxic job and it was to either change jobs or start the business and give it a go. 
• I was happy to make enough money, or just anything to get by. At times, I did things for free or massively under charged! I didn’t know my own worth!
• Money mindset isn’t taught in schools - the typical route is school, college and university to get a degree and get a job. 
• In the UK we have this “employment culture” and are rarely encouraged to start our own businesses and be successful in that way. 
• My money mindset when I launched my business was to do everything dirt cheap as I questioned clients affordability.
• Sometimes, when we are in our own bubble, it is easy to forget that we are selling to other business owners and they are making their own money. Never presume that they can’t afford you. They will have money set aside for this service. 
• There will always be someone out there charging more than you and quite often, not offering as good  a service. 
• Building a website is an investment, not a cost. 
• Remember that the service you provide is a tool to create more money for the client. 
• Strategies to help you develop your money mindset:

1. Look at your competitors: What prices are they charging? What services are they offering? Do your research!
2. When producing a quote, have the price written in front of you and remember that is your base price! 
3. Don’t be afraid to do some educating with your client to help them understand the value of having a website and that it is an investment rather than a cost. 

• Do not let the little voice in your head stop you from setting the price that you deserve. 

One thing to remember above all else

“Nobody gives you permission as a business owner to charge a higher price, you have to take that into your own hands.”

Highlights you simply cannot miss!

• What is a “money mindset”? (2.00)
• How I started my journey as a business owner with money mindset (4.23)
• Questioning client affordability and justifying setting your price (7.00)
• Strategies to improve your money mindset (10.12)